BOYS SUITS - GST RATES & HSN CODE 6203

Introduction

Boys suits are a popular item of clothing in India, especially during festivals and weddings. However, with the introduction of the Goods and Services Tax (GST) in India, it has become crucial for small and medium business owners and startup founders to understand the GST rates and Harmonized System of Nomenclature (HSN) code for boys suits. In this article, we will provide a detailed guide on the same.

GST Rates for Boys Suits

Boys suits fall under the category of readymade garments and are taxed under the GST regime at a rate of 5%. This rate is applicable to all types of boys suits, including those made of cotton, silk, or any other material.

HSN Code for Boys Suits

The HSN code for boys suits is 6203. This code is used for all types of boys suits, including those made of cotton, silk, or any other material. The HSN code is a six-digit code that is used to classify goods under the GST regime. It is essential for business owners to use the correct HSN code while filing their GST returns.

GST Compliance for Business Owners

It is crucial for small and medium business owners and startup founders to ensure GST compliance while selling boys suits. This includes registering for GST, filing GST returns on time, maintaining proper records, and adhering to GST rates and HSN codes.

Conclusion

Understanding the GST rates and HSN code for boys suits is essential for small and medium business owners and startup founders in India. By following the correct GST compliance procedures, businesses can avoid penalties and ensure smooth operations. We hope this article has provided you with a comprehensive guide on the same.